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 Wednesday, 21st September 2011, 16:03:00

Canadian band's domain name 'worth over $1m'

Canadian band's domain name 'worth over $1m'

A domain name owned by a Canadian rock band could be worth well over $1 million (£637,000), analysts believe.

The Tea Party, owners of the domain name, could be paid a substantial amount of money for the web address by supporters of the political movement that shares the group's name.

Sarah Palin, Rick Perry and Michele Bachmann are among the well-known figures involved in the movement, which is in favour of cutting government spending, reducing national debt and following an originalist interpretation of the US Constitution.

Speaking to Business Week, Tea Party bassist Stuart Chatwood admitted the band are thinking about cashing in on the valuable domain name.

He said: "So much damage has been done to our name by the political movement that we're considering selling."

However, is unlikely to be worth as much as the world's most valuable domain name,, which was sold by Escom to Clover Holdings for $13 million last November.

Posted by Kevin Jenson

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